Digital Assets Download - Solstice and Signing Off for 2022
One of the world’s oldest holidays, the solstice has always been symbolically important as a turning point in the year. Whether you’re using next week’s solstice to refocus on new projects or renew your efforts in existing ones, you can count on the Digital Assets Download to remain a helpful guide in this space. And since this is our last Digital Assets Download of 2022, our “Lingo” terms below—HODL and WAGMI—reflect both our approach to work in this space and our hopes for the new year. Best wishes everyone!
For the Uninitiated: Digital Assets Download is a curated mix of insights and headlines that provide a Layer 3 Legal Perspective™ on the digital assets multiverse—created by Mayer Brown’s global Digital Assets, Blockchain & Cryptocurrency group. (Check out all of our previous editions of the Digital Assets Download)
The Lead Block
News Node
NY DFS to Banks: Advance Permission Required for Crypto Activity
What Does ChatGPT Think about DeFi?
US Senator Brown on FTX: Crypto Puts Consumers and Our National Security at Risk
99% of People Will Lose Crypto Storing in Self-Custody: Binance CEO Changpeng Zhao
Amid Crypto Turmoil, Hong Kong Debuts First Crypto Futures ETFs
How to Build a Crypto Wallet
Protocol Developer Archblock Aims to Bring US Community Banks to DeFi Through Partnership
UN Taps Stellar Blockchain to Send War-Impacted Ukrainians USDC Stablecoins
UK Regulator Is Firming Up Its Approach to Crypto Oversight
Select Events
Selected events for deeper dives into different parts of the digital assets and DeFi world.
Mayer Brown and EmpireDAO Host Web3 Lawyers in New York
On December 7, Mayer Brown and EmpireDAO hosted a Web3 lawyer meetup connecting legal professionals from across the industry and cross-pollinating ideas that will shape the rollout of these technologies in the future. Look for similar events in the new year!
US Senate Committee on Banking, Housing, and Urban Affairs Hearing on “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers”
On December 14, the Committee conducted a hearing titled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers.” The witnesses were Professor Hilary J. Allen, American University Washington College of Law; Mr. Kevin O’Leary, Investor; Ms. Jennifer J. Schulp, Director of Financial Regulation Studies, Center for Monetary and Financial Alternatives, Cato Institute; and Mr. Ben McKenzie Schenkkan, Actor and Author. The link above leads to a recording of the hearing.
Learn the Lingo
HODL and WAGMI
HODL is an acronym widely used in crypto circles that stands for “Hold On for Dear Life.” Originally a typo in a bitcoin message board posting, crypto enthusiasts have adopted the misspelling as a statement of belief in crypto assets as long-term investments and as an encouragement to others in the face of highly volatile crypto-asset markets.
WAGMI is another acronym widely used in crypto discussions that stands for “We’re All Gonna Make It.” Similar to HODL, WAGMI is often used to reflect positivity and enthusiasm for crypto assets in general and camaraderie with others in the crypto community.
Writing on the Wall, Translating ‘Crypto’ Terms with Mayer Brown
From Airdrop to Wrapped Token, our illustrated glossary, “Writing on the Wall, Translating Securities with Mayer Brown,” has been updated with additional digital assets and cryptocurrency terms. Check out our “featured” list for the crypto terms and the full list of terms.
